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December 14, 2016 at 06:00 AM
A Sacramento, California-based patient advocacy group says someone should set standards for the information consumers get when long-term care insurance issuers fail.
The Senior Issues Task Force, part of the Kansas City, Missouri-based National Association of Insurance Commissioners, heard a request for that Saturday in Miami Beach, Florida.
California Health Advocates, the advocacy group, said the task force ”or some entity [should] develop clear explanatory general guidelines for consumers who receive notices from insolvent companies,” according to a task force meeting summary report.
Regulators in Pennsylvania recently converted the rehabilitation proceedings for Penn Treaty Network America and a sister company into liquidation proceedings.
Related: Consumer rep raises LTCI disclosure concerns
The task force also approved a proposal to develop a model law for short-term care insurance, through a new Short Duration Long-Term Care Policies Subgroup.
